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Good news for the Modi government, the direct tax collection has increased after demonetize

April 29, 2019
Good news for the Modi government, the direct tax collection has increased after demonetize

The government and the opposition are continuing to pull the ban on the ban. While the government is making it a right move, the opposition is blaming the ban on bondage of people's employment. Now the statistics that have come out are good news for the Modi government. According to them, there has been a major increase in the Direct Net Tax Collection in the year of the ban on bondage and thereafter.

Apart from this, the increase in revenue from advances and self-assessments under the personal income tax and the number of new income tax filers constantly indicate the positive effects of the filing of nomination. Personal income tax increased by 13% According to the Times of India report, Trends of Revenue Growth continued two years after the ban on bondage in 2018-19, corporate income tax 14% and personal income tax increased by 13%. Under the advance tax, the voluntary tax payment is also increasing at a speed of 14 percent, if it looks with increasing digitization, pointing to a clean economic system. In addition to the large amount of cash deposits, there is an unprecedented increase in accounts operated by domestic helpers and workers.

They deposited the old currency into the banks and the money kept under their children's boxes and bedding was secured. Increased new files from notebooks Increasing the number of income tax return filings has not diminished the trend. Over 1 crore new files have been added till February this year. The number of new income tax filers increased by 29% in the year of the ban on the ban.

According to a source, "The credit of the clear increase in new tax filers can be given to high compliance due to cash transfers in formal channels, which is due to the ban on bonding." Action against black money also happened This data also underlines the action against black money in the context of note-taking. Accordingly, black money worth Rs 900 crore was seized between November 2016 and March 2017. The increase in revenues and returns is seen in the form that individuals and businesses are forced to adopt transparent instruments. According to an official source, 18 lakh cases were identified in which cash deposit was not matching the return filing or did not file s.

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